Check My Work Orca Industries Below are the two most recent balance sheets and most recent income statement for Orca Industries. The company has an effective tax rate of 35%. Balance Sheet 2011 2010 $10.000 6,000 Assets: Cash Accounts Receivable (net) inventory Long lived assets Less: Accumulated depreciation Total assets 8,000 $6,000 1,500 10,000 11.000 0.000) $26.500 12.000 14.000) $32.000 Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity: Accounts payable Deferred revenues Long-term note payable Less: Discount on note payable Common stock Retained earnings Total liabilities and stockholders' equity $5,000 1.000 10,000 (800) 12.000 4,800 $32,000 $6,000 2.000 10,000 (1.000) 6.000 3.500 $26.500 Income Statement For the year ended December 31, 2011 Revenues Cost of goods sold Depreciation expense Interest expense Bad debt expense Other expense (including income taxes) Net income $42.000 (24,000) (2.000) (3.000) (2.000) 19.0001 $2.000 Refer to the information for Orca Tndustries. The return on assets for Orca Industries is: 1.13.59 Refer to the information for Orca Industries. The return on assets for Orca Industries is: a. 13.596 6.6.89 ci 12:36 1096 Dess Incorrect